Management Students attendance

No Name 1 2 3 4 Point 5 Group Individual 10% Pray

presen Presentati Presentation
tation on 20%
1. Rahel Bantider P P P P 19 P 20 Monitoring P 10 1
2. Amanuel P P P P 20 P 20 Evaluation P 10 1
Yohannes
3. Wakgari Kajela P P p P 18 P 20 Petty Cash P 10 1
4. Biftu Shuma P P P P 18 P 20 Accounts P 10 1
receivable
5. Abdena Tolesa P P P P 19 P 20 Budget P 10 1
6. Adugna Joffe P P P P 19 P 20 Accounts P 8
payable
7. Feyissa Bonsa A P P P 19 P 20 Income P 10
Statement
8. Betelehem A P P P 18 P 20 Audit P 10
Mekoya
9. Abeba Anja A P P P 20 P 20 Book Keeping P 10
10. Diriba Geleta A P P P 20 P 20 Bank P 7
Reconciliation
s
11. Nigatu Handiso A P P P 20 P 20 Inventory P 7
12. Leta Balcha A P P P 18 P 20 Depreciation P 10
13. Dinsa Temesgen A P P P 9 P 20 Cash flow P 10
statement
14. Lemlem Mulegeta A P P p 18 P 20 Time Value of P 10
Money
15. Bino Ayele A P P P 20 P 20 Accrual P 8
16. Areda Regassa A A P A 19 P 20 Deferral P 10
17. Yitbarek Tedla A A p p 18 A 20 Journal Entry P 7
18. Kahan Gatk A A A p 18 P ? Debit and P 10
 Credit

Planning is a critical function in any organization, as it sets the direction, goals, and strategies for achieving success. Effective planning ensures
that resources are allocated efficiently, risks are managed, and the organization is prepared to adapt to changes in the external environment.
Below is a structured approach to planning in an organization:

Understand the Purpose of Planning

 Define Objectives: Clearly articulate what the organization aims to achieve (e.g., growth, profitability, market share, innovation).

 Align with Vision and Mission: Ensure plans are consistent with the organization's long-term vision and mission.

 Set Priorities: Identify key focus areas that will drive the most value.

Steps in the Planning Process

1. Environmental Analysis:

o Conduct a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).

o Analyze external factors using tools like PESTLE analysis (Political, Economic, Social, Technological, Legal, Environmental).

2. Set Goals and Objectives:

o Use the SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) to define clear objectives.

3. Develop Strategies:
 o Identify the best course of action to achieve objectives.

o Consider competitive advantage, market positioning, and resource availability.

4. Create Action Plans:

o Break down strategies into actionable tasks.

o Assign responsibilities, set deadlines, and allocate resources.

5. Implement the Plan:

o Communicate the plan to all stakeholders.

o Ensure alignment and commitment across teams.

6. Monitor and Evaluate:

o Track progress using key performance indicators (KPIs).

o Adjust plans as needed based on feedback and changing conditions.

Planning
It is the basic function of management. It deals with chalking out a future course of action & deciding in advance the most appropriate course of
actions for achievement of predetermined goals. According to KOONTZ, “Planning is deciding in advance - what to do, when to do & how to do. It
bridges the gap from where we are & where we want to be”. A plan is a future course of actions. It is an exercise in problem solving & decision
making. Planning is determination of courses of action to achieve desired goals. Thus, planning is a systematic thinking about ways & means for
accomplishment of predetermined goals. Planning is necessary to ensure proper utilization of human & non human resources. It is all pervasive,
it is an intellectual activity and it also helps in avoiding confusion, uncertainties, risks, wastages etc.

Organizing

It is the process of bringing together physical, financial and human resources and developing productive relationship amongst them for
achievement of organizational goals. According to Henry Fayol, “To organize a business is to provide it with everything useful or its functioning
i.e. raw material, tools, capital and personnel’s”. To organize a business involves determining & providing human and non-human resources to the
organizational structure. Organizing as a process involves:

 Identification of activities.

 Classification of grouping of activities.

 Assignment of duties.

 Delegation of authority and creation of responsibility.

 Coordinating authority and responsibility relationships.

Staffing

What is the difference between Staffing and Human Resource Management?

Staffing and Human Resource Management (HRM) are related but distinct concepts within the field of workforce management. Here's
how they differ:

1. Definition & Scope

 Staffing: A specific function of HR that focuses on attracting, selecting, and hiring employees to fill job roles in an
organization.
 HRM: A broader discipline that includes staffing but also encompasses other functions like employee relations, training,
compensation, performance management, and strategic workforce planning.

2. Focus

 Staffing: Primarily concerned with recruitment, selection, onboarding, and workforce planning.
 HRM: Covers the entire employee lifecycle, including development, retention, motivation, compliance, and organizational
culture.

3. Responsibilities

 Staffing:
o Identifying workforce needs
o Recruiting and selecting candidates
o Conducting interviews and assessments
o Onboarding new employees
 HRM:
o Managing employee benefits and compensation
o Performance management and appraisals
o Employee relations and conflict resolution
o Compliance with labor laws and regulations
o Training and career development

4. Strategic vs. Operational

 Staffing: More operational in nature, dealing with the immediate need to fill job vacancies.
  HRM: More strategic, aligning human resources with business goals and ensuring long-term workforce planning.

5. Timeframe

 Staffing: Short-term and focused on immediate hiring needs.

 HRM: Long-term, ensuring workforce stability, growth, and organizational effectiveness.

Conclusion

Staffing is a sub-function of HRM that deals specifically with recruiting and hiring employees. HRM, on the other hand, takes a
holistic approach to managing employees throughout their tenure in the organization. Both are essential for building and maintaining
a productive workforce.

Please hire

A guard, cleaner, and accountant to your organization

Human Resource Management (HRM) is the strategic approach to the effective

management of people in an organization, ensuring they contribute to the achievement of
organizational objectives. It involves the recruitment, selection, training, development,
compensation, and retention of employees, as well as managing employee relations,
performance, and compliance with labor laws and regulations.
HRM is a critical function in any organization, as it ensures that the right people are in the
right roles and are equipped with the necessary skills, motivation, and support to succeed.

HRM aims to maximize employee performance and productivity while fostering a positive
work environment. It plays a critical role in aligning the workforce with the organization's
goals, culture, and values.

Key functions of HRM include:

1. Recruitment and Selection: Attracting and hiring the right talent for the
organization. Identifying staffing needs and attracting qualified candidates.

Conducting interviews, assessments, and selecting the best talent.

Ensuring a fair and unbiased hiring process.

2. Training and Development: Enhancing employees' skills and knowledge to

improve performance. Training and Development:
Providing employees with the skills and knowledge needed to perform their roles
effectively.

Offering opportunities for career growth and professional development.

Implementing onboarding programs for new hires.

3. Performance Management: Evaluating and improving employee performance
through feedback and appraisals.

Setting clear performance expectations and goals.

Conducting regular performance evaluations and providing feedback.

Recognizing and rewarding high performance.

4. Compensation and Benefits: Designing fair and competitive pay structures

and benefits packages. Setting clear performance expectations and goals.

Conducting regular performance evaluations and providing feedback.

Recognizing and rewarding high performance.

Designing fair and competitive salary structures.

Managing employee benefits such as health insurance, retirement plans, and

paid time off.

Ensuring compliance with labor laws and regulations.

5. Employee Relations: Maintaining positive relationships between employees

and management.
 Fostering a positive work environment and addressing workplace conflicts.

Ensuring compliance with labor laws and regulations.

Promoting diversity, equity, and inclusion.

6. Compliance: Ensuring adherence to labor laws, regulations, and organizational

policies.
7. Workplace Culture: Promoting a positive and inclusive work environment.
8. Health and Safety:

Ensuring a safe and healthy work environment.

Implementing policies and procedures to prevent workplace accidents and

injuries.

Providing support for employee well-being.

9. HR Technology and Analytics:

Leveraging technology to streamline HR processes (e.g., HRIS, payroll systems).

Using data analytics to make informed decisions about workforce management.

HRM is essential for creating a motivated, skilled, and productive workforce, which is a key
driver of organizational success.
It is the function of manning the organization structure and keeping it manned. Staffing has assumed greater importance in the recent years due
to advancement of technology, increase in size of business, complexity of human behavior etc. The main purpose o staffing is to put right man on
right job i.e. square pegs in square holes and round pegs in round holes. According to Kootz & O’Donell, “Managerial function of staffing involves
manning the organization structure through proper and effective selection, appraisal & development of personnel to fill the roles designed un the
structure”. Staffing involves:

 Manpower Planning (estimating man power in terms of searching, choose the

person and giving the right place).

 Recruitment, Selection & Placement.

 Training & Development.

 Remuneration.

 Performance Appraisal.

 Promotions & Transfer.

Directing

It is that part of managerial function which actuates the organizational methods to work efficiently for achievement of organizational purposes. It
is considered life-spark of the enterprise which sets it in motion the action of people because planning, organizing and staffing are the mere
preparations for doing the work. Direction is that inert-personnel aspect of management which deals directly with influencing, guiding,
supervising, motivating sub-ordinate for the achievement of organizational goals. Direction has following elements:

 Supervision

 Motivation

 Leadership

 Communication

Supervision- implies overseeing the work of subordinates by their superiors. It is the act of watching & directing work & workers.
Motivation- means inspiring, stimulating or encouraging the sub-ordinates with zeal to work. Positive, negative, monetary, non-monetary
incentives may be used for this purpose.

Leadership- may be defined as a process by which manager guides and influences the work of subordinates in desired direction.

Communications- is the process of passing information, experience, opinion etc from one person to another. It is a bridge of understanding.

Controlling

It implies measurement of accomplishment against the standards and correction of deviation if any to ensure achievement of organizational
goals. The purpose of controlling is to ensure that everything occurs in conformities with the standards. An efficient system of control helps to
predict deviations before they actually occur. According to Theo Haimann, “Controlling is the process of checking whether or not proper progress
is being made towards the objectives and goals and acting if necessary, to correct any deviation”. According to Koontz & O’Donell “Controlling is
the measurement & correction of performance activities of subordinates in order to make sure that the enterprise objectives and plans desired
to obtain them as being accomplished”. Therefore controlling has following steps:

a. Establishment of standard performance.

b. Measurement of actual performance.

c. Comparison of actual performance with the standards and finding out deviation if

any.

d. Corrective action.
Reporting

Reporting is a critical function of management that involves the systematic

collection, analysis, and dissemination of information to support decision-
making and ensure organizational transparency. It serves as a bridge between
different levels of management, enabling the flow of data from operational units
to top executives. Reports can take various forms, such as financial statements,
performance reviews, or project updates, and are tailored to meet the specific
needs of stakeholders. By providing accurate and timely information, reporting
helps managers monitor progress, identify trends, and address potential issues
before they escalate. This function is essential for maintaining accountability
and ensuring that organizational goals are aligned with actual performance.

The effectiveness of reporting depends on its clarity, relevance, and reliability.

Managers rely on reports to make informed decisions, so the information must
be presented in a concise and understandable manner. Modern organizations
often use kdigital tools and software to automate reporting processes, ensuring
consistency and reducing the risk of human error. Additionally, reporting should
be tailored to the audience; for example, a detailed technical report may be
appropriate for department heads, while a high-level summary might suffice for
senior executives. Regular reporting intervals, such as weekly, monthly, or
quarterly, help maintain a steady flow of information and allow for continuous
improvement. Without effective reporting, management would lack the insights
needed to steer the organization toward its objectives.

Beyond its operational role, reporting also plays a strategic function in

management. It supports long-term planning by providing historical data and
performance benchmarks, which can be used to forecast future trends and set
realistic goals. Furthermore, reporting fosters a culture of transparency and
accountability within the organization, as employees and stakeholders are kept
informed about progress and challenges. In regulated industries, reporting is
often a legal requirement, ensuring compliance with standards and regulations.
Ultimately, reporting is not just about documenting what has happened; it is a
proactive tool that empowers management to make data-driven decisions,
optimize resources, and achieve sustainable growth. By integrating reporting
into their daily operations, organizations can enhance their agility and
responsiveness in an ever-changing business environment.